As envisaged earlier after breaking the 50.79 resistance, the currency did show some strength of late. The bull run will continue only if it breaks the resistance of 47.70 conclusively which will see fresh longs. Otherwise it will continue to be week. The immediate support is at 49.80. On the flip side however, if the 51.70 support is broken, fresh shorts will be built.
Sunday, February 12, 2012
USD-INR technicals for the week February 2012 . USD-INR technicals for February 2012.
As envisaged earlier after breaking the 50.79 resistance, the currency did show some strength of late. The bull run will continue only if it breaks the resistance of 47.70 conclusively which will see fresh longs. Otherwise it will continue to be week. The immediate support is at 49.80. On the flip side however, if the 51.70 support is broken, fresh shorts will be built.
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